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Burlington Apartment tenants ready to return - Hawk EyeIt will be a bittersweet homecoming for Annette Colton. After being displaced earlier this year due to flooding, Colton and about 30 other tenants of The Burlington Apartments will return home Dec. 1. The recently announced return date comes months ...
Washington Father Uses Two Young Sons in Attempted Burglary - FOX NewsBURLINGTON, Wash. — Police say a 28-year-old man used his two young sons — 7 and 4 — to help him attempt to steal nearly $8,000 worth of goods from the Burlington Kmart. Jesus Barragan of Sedro-Woolley has been charged in Skagit County Superior ...
Surviving the housing crisis - Burlington UnionThere are more than seven million homeowners who are “underwater,” a term that describes the situation when your mortgage exceeds the value of your home. Nationwide, one out of five homeowners are underwater. In Nevada, where the prices have ...
SEC Accuses Dallas Mavericks Owner of Insider Trading - FOX NewsThis is a developing story. Refresh page for updates. CDC: Huntington, W. Va. Nation's Unhealthiest City Student Dies After Prop Gun Discharges Before Play Performance Missing Wisconsin Mother Found Dead, Ex-Husband Arrested W. Virginia Town Shrugs ...
Have a ‘Charlie Brown Christmas’ - Burlington UnionAmerica hit a bump in the road last year when the housing market went south thanks to greedy lenders pumping secondary markets with sub-prime mortgage notes. While it’s true some homeowners should have never been approved for a mortgage, who can ...
Housing grant will buy, sell foreclosed homes - Burlington Free PressMONTPELIER – The Douglas administration has released its proposal for distributing $19 million in federal funds that will be used to buy, fix, and resell foreclosed homes; and refurbish or demolish blighted or abandoned buildings as part of the ...
Madigan sues 7 companies over mortgage schemes - St. Louis Business JournalIllinois Attorney General Lisa Madigan sued seven so-called mortgage “rescue” companies late Monday and warned consumers about an alarming rise in these scams that prey on vulnerable homeowners on the verge of foreclosure. Con artists targeted ...
Raasch column: Obama handoff may be smooth - Burlington Free PressIt was either a sign of the genius of the American republic or a paean to political amnesia. Probably a heap of both were necessary for George W. Bush and Barack Obama to meet at the White House to symbolize the transition of government. Obama had ...
Bradford County Property Transactions - Daily Review & Sunday ReviewThe following property transactions were recorded recently at the Bradford County Courthouse. Alfred Finnerty, Alfred A. Finnerty (AKA) and Beverly Finnerty, Beverly J. Finnerty (AKA) to Commonwealth of Pennsylvania Department of Transportation of ...
Madigan suing a Plainfield company - Herald NewsCHICAGO -- A Plainfield company is among seven "so-called mortgage 'rescue' companies" that were sued Monday by Illinois Attorney General Lisa Madigan. Madigan said the companies were scamming vulnerable homeowners who are on the verge of foreclosure ...
Today's Mortgage Terms starting with I
Index: An index is usually a widely published market rate such as LIBOR, T-Bill or 11th District Cost of Funds (COFI). Lenders use these indices to set the interest rates charged on mortgage loans. For ARM, a predetermined margin is added to the index to calculate the interest rate adjustment.
Initial Rate: The rate charged for the first interval of an ARM loan.
Interest: Compensation in the form of money paid for the use of money.
Interest Rate Cap: Caps limit the range that the interest rate on an adjustable rate mortgage can change in an adjustment interval during the term of the loan.
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